Premature Closure of HDFC Bank Fixed Deposit
HDFC Bank charges an interest rate on premature closure.
- The base rate for the deposit’s initial term.
- The base rate that is applicable for the duration that the deposit has been with the HDFC bank.
All deposits of less than ₹1 crore made on the date of booking will be charged at the base rate. For any deposits of more than ₹5 crore, the base rate shall be ₹5 crore as of the date of booking. HDFC Bank will impose a 1% penalty on premature withdrawals.
For Example, consider sweep-ins and partial withdrawals. The premature withdrawal penalty does not apply to fixed deposits planned for 7 to 14 days.
HDFC FD Interest Rates 2024
HDFC Bank Limited is one of India’s major private-sector banks. It is based in Mumbai, Maharashtra, and is the third-largest corporation by market capitalization on the Indian stock exchanges. HDFC offers a wide range of products and services, including wholesale banking, retail banking, different types of loans, and credit cards.
HDFC Bank offers its customers a variety of Fixed Deposit options in which they can deposit additional funds for a certain period of time and earn substantial returns. The depositor is needed to deposit the money just once while opening an account with the bank. The money will be secured for the time frame indicated, and interest will be paid accordingly. Additional money cannot be deposited or withdrawn during the tenure.
Table of Content
- HDFC Bank FD Rates 2024
- Features of HDFC Fixed Deposit
- Types of HDFC Bank FD Schemes
- How to Invest in HDFC FD?
- Eligibility to Open an HDFC FD Account
- Documents Required to Open HDFC FD
- Tax on HDFC Bank Fixed Deposit
- Loan Against HDFC Bank FD
- Premature Closure of HDFC Bank Fixed Deposit
- Frequently Asked Questions (FAQs)